Delete time from video project
Yes, you can do this. It's fairly easy once you know how. 


Go to the frame you want to start on. In your case, 100. 
First select the whole video. Then press Shift+K, to hard cut. Now you should have two videos and/or audio(cutting the video cuts the audio too).
Then do the same as number one but to last frame you want to cut out. (200)
Simply select the middle video and audio, and press X then E
Finally select the last strip of video and audio and slide over to the first using G


Want More Info? 

Check out Mikeycal Myers Videos on Blenders V.S.E. here 
For this, I would recommend video #4